Gasoil intended for Yemen – Kepler
Total stock decreased by 26.5 percent year-over-year
LSFO Premium is jumping
For the first time in three weeks, oil reserves at the port of Fujaira in the United Arab Emirates are showing signs of delaying demand for oil on power plants and offshore reservoirs.
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According to the Fujairah Oil Industry Zone report released to S&P Global Platts on September 8 alone, the total volume since September 2019 was 4.4% from a total of 18.462 million barrels. Heavy refineries jumped from 5.8% to 8.723 million barrels at the same time on August 30 after hitting a five-month low.
Exporting oil from Fujairah fell to 1.742 million barrels a week, the lowest since July 26, with no ships to Singapore for the first time since January 18, according to Kepler. Exporting about 115,000 barrels of medium volume was recorded for the week, the lowest since February 1, with all 115,000 barrels of oil heading to Yemen, Kepler said.
Traders said demand for low-sulfur oil depots in September fell sharply from strong demand in August.
“Bankers’ demand has certainly slipped over the past week,” said a Fujairah resident.
From September 1 to September 8, the merchant called the port and reduced ship plans.
The FOB Singapore Maritime Freight Ratings fell by 3.04 / mt on September 7 to $ 1.50 / m on September 7, according to FOB.
Despite high demand for sulfur offshore warehouses, prices have remained weak since August, traders said.
The Fujairah-380 CST HSFO premium in the Fobo Arabian Gulf 380 CST high sulfur fuel load ratings showed an average of 24.19 / mt, an average of 24.19 / mt from September to August.
Fujairah-based 380 CST HSFO bakeries continue to supply demand, he said.
Supply of 380 CST HSFO bakeries has not changed since August.
According to Kepler, the Fujairah gas station terminals were seized on September 4 at 471,585 barrels or 74,265m in Kuwait City.
Shares of Fujairah Middle Dealers have traded up 3.984 million barrels since September 6, 8.4% a week and the first increase in three weeks. Medium diesel includes jet fuel, gasoline and diesel.
Lighting shares, including gasoline and naphtha, have stood at 5.755 million barrels since September 6, down 0.1% a week earlier.
In heavy distribution, the total stock led by a drop of 35% decreased by 26.5% a year ago. Electricity distributions declined by 23.9% last year, while medium-sized distributors declined by 6%.